- Curve founder sold 236K CRV worth $108K today
- Over 3 million CRV sold since March 24
- Total cash out value reached $1.62 million
As the crypto market shows signs of recovery, Curve Finance founder Michael Egorov has resumed offloading CRV tokens. According to blockchain analytics platform Spot On Chain, Egorov sold 236,457 CRV today, netting approximately $108,000. This move follows a trend observed over recent weeks.
Since March 24, Egorov has been gradually selling off his CRV holdings, totaling 3.083 million tokens. With an average selling price of $0.527 per CRV, the sales have brought in a total of roughly $1.62 million. This steady liquidation suggests a strategic move to take advantage of the market’s upward momentum.
Breaking Down the CRV Sell-Off
Curve Finance is a major decentralized finance (DeFi) protocol focused on stablecoin trading. Its native token, CRV, plays a key role in governance and liquidity incentives.
Egorov’s sales may raise eyebrows in the community, especially given his central role in the project. While founders occasionally liquidate tokens for operational or personal reasons, consistent selling during a market recovery can sometimes be viewed as a lack of long-term confidence in the token’s future performance.
That said, the crypto market remains volatile and dynamic. Investors and analysts often monitor wallet movements by major players like Egorov to assess potential price impacts and market sentiment.
What It Means for CRV Holders
For CRV holders, Egorov’s sell-off could lead to short-term price pressure. However, it’s worth noting that the DeFi sector has been steadily recovering alongside broader market optimism. If Curve continues to grow in adoption and usage, the long-term outlook for CRV might remain strong despite these recent sales.
Still, this situation serves as a reminder of the influence founders and whales can have on token dynamics—and why transparency and decentralization are crucial in crypto ecosystems.
